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The Latest Breaking News from International Monetary Fund

Explained: What happens if Pakistan defaults on its debt

NEW DELHI: Cash-strapped Pakistan economy is in dire states with plunging currency, soaring inflation, a balance of payments crisis, diminishing forex reserves all amid political chaos and a deteriorating security situation.

The Times of India

Paris Club creditors give assurances to back IMF bailout for Sri Lanka

The Paris Club of creditors has given financing assurances to support the International Monetary Fund's approval of an extended fund facility for Sri Lanka, the Sri Lankan president's office said on Tuesday.

Reuters

Lebanese banks close doors to customers to protest ruling

Lebanon’s battered commercial banks have closed their doors to customers in protest of a recent court ruling that forced one of the country’s largest banks to pay out two of its depositors their trapped savings in cash

The Independent UK

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Lebanese Banks to Start Open-Ended Strike, to Keep ATMs Working

Banks in Lebanon will start an open-ended strike from Tuesday but will keep ATMs operating for basic services, the Lebanese Banks Association said on Monday, urging authorities to pass overdue measures to deal with a deep financial crisis. The decision came after a meeting by the association to discuss judicial…

Asharq Al-Awsat

IMF: U.S. economy might yet manage to pull off a soft landing and avoid recession

Treasury Secretary Janet Yellen also downplayed the risk of the U.S. economy contracting: “You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.”

Fortune

Pakistan, IMF grapple for consensus to unlock critical funding

Pakistan and the visiting International Monetary Fund mission are struggling to arrive at a consensus on fiscal adjustment plans, sources said on Monday, in talks aimed at unlocking critical funds needed for the ailing South Asian economy.

Reuters

Boost Your Passive Income in 2023 With These 2 Stocks

The Fed’s hawkish stance to curb inflation is likely to continue throughout 2023, which could keep the stock market under some pressure. Amid price fluctuations, investors looking for passive income could scoop up quality dividend-paying stocks Valero Energy (VLO) and Powell Industries (POWL) this year. Read on….

StockNews.com

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Martin Lewis gives verdict on interest rate rise and what it means for mortgage holders

Money Saving Expert founder has shared his advice after Bank of England hiked rates to 4%

The Independent UK

Trade down, economy sinking, support falling: is the tide finally turning on Brexit?

Three years on, Bregret hits home in Britain. For the EU, though, life has moved on

The Guardian - UK

Sri Lankans lament Independence Day pomp amid economic crisis

Armed troops parade in Colombo amid criticim over the event’s cost at a time of dire economic crisis.

Al Jazeera

French Envoy Criticizes Lebanon over 'Slow' Reforms Needed for IMF Loan

The French diplomat charged with coordinating international support for Lebanon, so it can receive International Monetary Fund aid, on Friday criticized the slow pace of reforms in the crisis-hit country. The IMF last April announced an agreement in principle with Beirut for $3 billion in aid spread over four years,…

Asharq Al-Awsat

2 High-Flying Growth Stocks to Buy Now

As inflation continues to ease, the Fed recently raised interest rates by 25 bps, lower than its December hike of 50 bps. With the continued slowdown in rate hikes and the economy moving in the right direction, a soft landing for the economy looks increasingly possible to most analysts. Hence,…

StockNews.com

Pakistan PM warns of 'tough time' to fulfill IMF conditions

Pakistan’s prime minister has warned of a “tough time” as his government struggles to comply with conditions set by the International Monetary Fund for the next tranche of the country’s bailout package

The Independent UK

‘Beyond imagination’: Pakistan PM warns of IMF bailout conditions

An IMF delegation is in Pakistan for last ditch talks to revive financial aid, which has stalled for months.

Al Jazeera

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StockNews.com

The 5 Best Stocks to Invest $1,000 in Right Now

Improving investors’ sentiments amid the cooling inflation and moderating interest rate increases helped the stock market to surge in recent weeks. Moreover, the IMF raised its world economy growth forecast. Given the rising optimism, AbbVie (ABBV), Vertex Pharmaceuticals (VRTX), Murphy (MUSA), MasterCraft Boat (MCFT), and PrimeEnergy Resources (PNRG) might be…

France 24

Apple reports sharp drop in quarterly sales

BUSINESS DAILY – Friday, 03.02.2023: We take a look at the reasons behind Apple's largest drop in sales since 2019. We also see how Adani stock dropped 35 percent before rallying. Meanwhile, tense negotiations are taking place between Pakistan and the IMF, with the nation's PM saying it has no…

Chicago Tribune

Commentary: Ukraine should not abandon its domestic debt market as it battles Russia

The financial support provided by international partners helped Ukraine withstand the beginning of Russia’s full-scale invasion and became a significant source of funds throughout 2022. This year, our country will also need continuous financial support. However, it will be difficult for the government to reduce budget expenditures because direct injections…

The Times of India

Pakistan 'will have to agree' to IMF conditions for bailout: Shehbaz Sharif

ISLAMABAD: Pakistan's prime minister Shehbaz Sharif said on Friday that the International Monetary Fund (IMF)'s demands are “beyond imagination" but admitted that the government had no choice and would have to accept the terms and conditions to avail the fund from the international body.

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Reuters

IMF giving Pakistan tough time in 'unimaginable' economic crisis - PM

Pakistan Prime Minister Shehbaz Sharif said on Friday the International Monetary Fund was giving his country a "tough time" over unlocking stalled funding from a $6.5 billion bailout at a time of "unimaginable" economic crisis.

France 24

Ukraine's Zelensky vows to hasten EU membership after Kyiv summit

Top EU officials met with Ukrainian President Volodymyr Zelensky during a summit in Kyiv on Friday in a show of support for the country as it battles to counter Russia's forces and strives to join the 27-member bloc. Ahead of the summit, European Council President Charles Michel said Moscow's invasion…

The Conversation

UK to perform worst of major economies in 2023, says IMF – here’s how to achieve long-term growth

The International Monetary Fund (IMF) has produced another dismal forecast for the UK economy. The IMF expects it to contract by 0.6% in 2023, whereas all other major economies are expected to grow – including sanctions-hit Russia. Meanwhile the Bank of England expects the UK economy will be no larger…

Newsroom.co.nz

Rod Oram: Floods and strikes should shock NZ from complacency

We can avoid a recession if companies invest wisely in their future; our mood will be the crucial determinant.

WEKU

Pakistan is roiled by multiple crises at once, with little end in sight

A storm of global issues, from the Russian invasion of Ukraine to the Taliban's takeover of Afghanistan, has exposed and exacerbated Pakistan's political, economic and security fault lines.

The Independent UK

Martin Lewis gives verdict on interest rate rise and what it means for mortgage holders

Money Saving Expert founder has shared his advice after Bank of England hiked rates to 4%

AAP

More interest rate increases are warranted, says IMF

Australia's economy is tracking toward a soft landing but the International Monetary Fund envisions more cash rate increases in 2023.

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